100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
AIS Exam Ch 1 Questions & Answers 2024/2025 CA$11.53   Add to cart

Exam (elaborations)

AIS Exam Ch 1 Questions & Answers 2024/2025

 10 views  0 purchase
  • Course
  • AIS
  • Institution
  • AIS

AIS Exam Ch 1 Questions & Answers 2024/2025 Which of the following markets is most likely to be perfectly competitive? - ANSWERSThe market for mushrooms Which of the following markets is most likely to be perfectly competitive? - ANSWERSThe market for rock salt What are the likely reason...

[Show more]

Preview 2 out of 6  pages

  • August 10, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • AIS
  • AIS
avatar-seller
AIS Exam Ch 1 Questions & Answers
2024/2025

Which of the following markets is most likely to be perfectly competitive? - ANSWERSThe market for
mushrooms



Which of the following markets is most likely to be perfectly competitive? - ANSWERSThe market for rock
salt



What are the likely reason(s) that the market for electricity is not perfectly competitive? Please select all
that apply. - ANSWERSIt is difficult to enter or exit the industry as a supplier




There are few sellers in the market



What are the likely reason(s) that the market for dress shirts is not perfectly competitive? Please select
all that apply. - ANSWERSDress shirts are not a standardized (homogeneous) product.



Pete's Electronics is a small company that produces 8 gigabyte flash drives in a perfectly competitive
market. The market price for 8 gigabyte flash drives is $15 each.



(draw line from 10 to 60 straight at $15) - ANSWERSQuantity



(8GB flash drives)




TR MR AR

(dollars)

, $$$

10 150 15 15

20 300 15 15

30 450 15 15

40 600 15 15

50 750 15 15

60 900 15 15



Soylent Green is a perfectly competitive firm that produces soybeans. What is Soylent Green's marginal
revenue for an extra bushel of soybeans sold? - ANSWERS$50 for an extra bushel of soybeans sold



Fill in the marginal revenue (MR) and average revenue (AR) columns

(draw line from 5 to 30 @$4) - ANSWERSQuanity MR AR

(dollars) (dollars)

544

10 4 4

15 4 4

20 4 4

25 4 4

30 4 4



At the market price of $4.00 per apple pie, how many apple pies should Baker Street make? -
ANSWERS25



If the market price for apple pies were to rise to $6.00 per apple pie, how many apple pies should Baker
Street make? - ANSWERS30



The market price of children's mittens is $6.00 per pair. How many pairs of children's mittens should
Smitten produce per week to maximize its profits? - ANSWERS35

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Bensuda. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$11.53. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81989 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$11.53
  • (0)
  Add to cart